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1)Service line partitioning, such as express check out lines vs. regular check out lines, is an example of the following strategy: Managing demand....
1)Service line partitioning, such as express check out lines vs. regular check out lines, is an example of the following strategy:
a.Managing demand.
b.Chasing capacity.
c.Overbooking.
d.Chasing demand.
2)Assume that the developer of a shopping mall plans for a fixed amount of parking spaces. This is an example of the following strategy:
a.Level capacity
b.Chasing demand
c.Managing demand
d.Workshift scheduling
3)A good overbooking strategy should
a.Minimize the expected opportunity cost of idle service capacity.
b. Balance the expected opportunity cost of idle service capacity and expected cost of turning away customers who have reservations.
c.Minimize the expected cost of turning away reservations.
d.None of the above; services should try to avoid overbooking.
4)
Eagle Airlines has reviewed the boarding history for one of its routes and calculated the probability of specific numbers of no-shows. The cost for flying an unoccupied seat is estimated at $175, and the cost of having to turn an overbooked customer away is estimated at $250. Use the following table for the next two questions.
Probability
Number of reservations overbooked
No Shows
0
1
2
3
4
0
0.16
0
250
500
750
1000
1
0.25
175
0
250
500
750
2
0.24
350
175
0
250
500
3
0.19
525
350
175
0
250
4
0.16
700
525
350
175
0
XXX
339.5
232.5
231.75
333
515
The values in the bottom row (row XXX) represent:
a.Expected revenue.
b.Expected profit.
c.Expected loss.
d.Expected cash flow.
